Works is underway on the third apartment in a complex in the West Hill. Numbers show a 40 per cent increase in housing starts in Prince Albert this year. (Susan McNeil/paNOW)

By Susan McNeil

Housing starts up

Prince Albert starting to feel the development boom, housing stats show

Aug 17, 2024 | 7:00 AM

New numbers shared by the Saskatchewan government Friday spotlighted booming housing starts in Regina and Saskatoon, but skipped over Prince Albert.

However, the city’s own website shows that it is feeling its share of the building boom with single family housing developments increasing by 40 per cent so far when compared to 2023.

A total of 46 permits for single family homes have been issued in 12 units so far, which is 13 more than last year.

Multi-family development is down slightly likely because last year, three new apartment buildings began construction in the West Hill area, several blocks from the hospital and Alfred Jenkins Field House.

The provincial government says the province-wide housing stats show that Saskatchewan has a healthy, growing economy and is now ranked third in the country.

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“This growth shows that our efforts to create a competitive and stable business environment while attracting record new investment is paying off. The province is well positioned to capitalize on emerging opportunities into the future, ensuring Saskatchewan remains a great place to live, work and raise a family,” Trade and Export Development Minister Jeremy Harrison said in a news release.

Other major projects in Prince Albert include the continual construction of a new arena and aquatics centre in The Yard. Private commercial development in that subdivision is also happening.

The Sasktel store has moved into a strip mall that will also hold a Firehouse Subs restaurant.

Three other buildings are in various stages of development. Property records show that Lake Country Co-op owns several lots there and another lot has a sign saying hotel coming soon. The Holiday Inn that was the first place to open in The Yard began operations a year ago.

Both of Saskatchewan’s major cities also saw year-over-year gains with Regina seeing a very large gain of 317 per cent, and Saskatoon seeing a 23 per cent increase in July 2024 compared to July 2023.

Statistics Canada’s latest GDP numbers also indicate that Saskatchewan’s 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion, or 1.6 per cent, slightly higher than the national average of 1.2 per cent.

Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.

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susan.mcneil@pattisonmedia.com